Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.026%

Price spread now: Paradex against Phoenix+0.008%46s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SPCX	153.02	0.0314	pay 0.0039% / 1h	45m 53s	$445K	$270K	15x
Short	Paradex SPCX-USD-PERP	153.03	0.0085	get 0.0085% / 8h	6h 45m	$101	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee ParadexbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$47.96
Price spread: +0.008% → 0.000%: $0.81
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$58.15
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 21 min ago; Paradex: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 21 min ago	0.33 bp	7.0 bp −$7	22.5 bp −$225	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SPCX on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX SPCX/USD [ETH-USDC]	L −0.0340% / S +0.0537%	1h	152.97	−0.036%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.99	−0.020%	$96.3M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.746%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.052%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.28	+0.170%	$8K	$949K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.96	−0.039%	$72K	$1.1M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	0.000%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.92	−0.063%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.96	−0.039%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.93	−0.059%	$2.5M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.196%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.052%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.03	+0.007%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.00	−0.013%	$1.2M	$7.0M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.96	−0.039%	$500K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.97	−0.033%	$1.7M	$87K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.94	−0.052%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.118%	$3.2M	$2.6M	10x	as long as short
Paradex SPCX-USD-PERPshort	+0.0085%	8h	153.03	+0.008%	$101	—	5x
Pacifica SPCX	+0.0100%	1h	152.92	−0.065%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.90	−0.078%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.94	−0.052%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.01	−0.007%	$15K	$7K	10x	as long as short
Bybit SPCXUSDT	+0.0102%	8h	153.02	0.000%	$30.9M	$42.9M	100x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.00	−0.011%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.007%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0159%	1h	153.00	−0.011%	$11K	$189K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0169%	1h	152.98	−0.026%	$142.4M	$119.7M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0204%	8h	153.02	0.000%	$39.4M	$168.9M	75x	as long as short
Variational Omni SPCX	+0.0217%	8h	152.98	−0.025%	$6.0M	$3.3M	—	as long as short
Bitget SPCXUSDT	+0.0221%	8h	153.04	+0.013%	$31.8M	$66.6M	75x	as long as short
Extended SPCX-USD	+0.0232%	1h	152.97	−0.034%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0232%	8h	153.01	−0.009%	$252.8M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0271%	1h	152.95	−0.046%	$620K	$844K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.078%	$728K	$986K	10x	as long as short
Phoenix SPCXlong	+0.0314%	1h	153.02	long leg	$445K	$270K	15x
Aster SPCXUSD1	+0.0392%	8h	153.11	+0.062%	$19.0M	$17.7M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.06	+0.023%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0426%	4h	153.00	−0.010%	$1.7M	$894K	20x	as long as short